5 DESCRIPTION OF THE HEMA MAJOR The Health Enterprise Management (HEMA) major at Kellogg encourages a balanced and holistic approach to the health industry. Ideas forged here help transform health industry management and policy. Our faculty experts and professional network are second to none and frequently consult public and private organizations throughout the healthcare sector. The HEMA major meets the needs of any management student who seeks to excel in either the services or products side of the health industry. HEMA courses are taught by some of the world s leading scholars in a wide range of academic fields. Our courses emphasize the importance of translating fundamental management principles into stateof-the-art tools for practitioners. HEMA graduates compete successfully for jobs in provider, insurer and supplier organizations, as well as in consulting, investment banking and other related sectors of the economy. The HEMA major combines flexibility with depth. The cornerstone of the HEMA major is the introductory core course, which presents a body of common knowledge necessary to anyone managing in the health sector. Students must take three additional courses from a lengthy list, some of which emphasize themes common to the services and products side, and some of which are specific to each track. There are no prerequisites for the major and students with no prior experience in the health sector are invited to sample HEMA courses. HEMA Profile Book

6 COURSE OFFERINGS The HEMA department coordinates and promotes groundbreaking education, research and outreach in both the services and products side of the health sector. HEMA brings together two separate programs, each with a rich tradition of excellence: The Health Industry Management major, which celebrated its 65th anniversary of training students interested in careers in the traditional areas of health services, and The Center for Biotechnology Management, which emphasizes medical product innovation. Students seeking careers in the health industry may complete the HEMA major, which combines courses that emphasize the common academic foundations of the health services and health products sectors with a wide range of courses focused on each sector. All HEMA offerings emphasize the importance of translating fundamental management principles into state-of-the-art tools for practitioners. Below is a highlight of just a few of over 20 interdisciplinary HEMA courses offered. A complete list can be found online at the following website: Biomedical Marketing (HEMA-914) The biomedical industry is beginning to appreciate that success comes from a combination of great science and strong marketing. Marketing in the biomedical industry poses unique challenges: marketers have to deal with a complex regulatory, competitive, scientific and ethical environment, while building strong businesses and brands. This course studies how core marketing concepts play out in the biomedical industry, through a combination of case studies, guest speakers, student projects and discussions. It is ideal for students who plan to go into the medical device and pharmaceutical industries. International Healthcare Systems (INTL-442) Healthcare businesses must all deal with the same fundamental principles, namely tradeoffs among cost, quality, and access to care. International healthcare systems also make decisions based on these tradeoffs. This course covers basic topics common to all healthcare systems and focuses on countries of particular interest to students. Managerial Challenges in the Pharma, Biotech, and Medical Device Industries (HEMA-453) This course provides an overview of the pharmaceutical, biotechnology and medical device industries. It explores their history, growth, organizational structure, vital statistics, recent performance, social contribution and prospects for the future. It examines the critical interrelationships among the firms within and across the three industries and the centrality of these interrelationships for product development and sales. Healthcare Strategy (MGMT-945) This new course delves into the strategic issues faced by healthcare firms. It discusses where and why the healthcare sector deviates from normal strategy frameworks. The course spends some time learning details about several sectors, including health insurance, hospitals, pharmaceuticals, and medical devices. Although the course focuses on private firms in the U.S., it also covers the role of the government in regulating and providing healthcare, as well as some international issues. Service Operations (OPNS-482) It is important for a manager to understand how services differ from manufacturing operations and how traditional operations' management techniques can be applied to services. This course applies concepts from the core operations class, extending the discussion of managing variability and customer waits. It examines service operations in healthcare, retail environments and airlines, among other settings. 4 HEMA Profile Book 2012

7 HEALTHCARE CLUB ACTIVITES Speaker Series with Industry Leaders: Executive healthcare leaders share their experiences, insights, and views on contemporary healthcare topics with students. Mini-Med Schools: Physicians and corporate sponsors provide students with an overview of disease states and relevant treatment options to provide students with solid clinical and industry foundations. Case Competitions: Firms sponsor these events which provide hands-on, realtime exposure to healthcare business challenges along with the opportunity to win generous prizes! Academic Professional Development Careers Mock Interviews: Companies that recruit at Kellogg provide realistic on-campus practice interviews for first years seeking internships. Social Mixers: Casual occasions for Healthcare Club members to network and enjoy appetizers and friendly conversation with professors, local alumni and each other. Resume Reviews: Second years help first years market themselves in preparation for internship recruiting. Interview Prep Groups (IPGs): Second years lead weekly interview preparation meetings for groups of 3-5 first years in preparation for internship recruiting. Career Panels: Second years provide guidance to first years regarding the variety of career opportunities in the healthcare industry. Treks: First years lead 2-day regional trips to several healthcare companies for meetings with company representatives and facility tours. HEMA Profile Book

8 BUSINESS OF HEALTHCARE CONFERENCE Every year Kellogg hosts the Business of Healthcare Conference, focusing on some of the most topical and contemporary issues facing the global healthcare industry. Professionals, academics and students explore ways that healthcare value is created and the related implications for the broader healthcare system. Kellogg students not only attend and get the chance to hear from and engage with top leaders in healthcare, but also actively plan, coordinate, and execute one of Kellogg s most successful conferences. Recent speakers and panelists include a variety of knowledgeable, talented, and successful global leaders: Robert L. Parkinson, Jr., Chairman and Chief Executive Officer, Baxter International, Inc. Rulon Stacey, President and Chief Executive Officer, Poudre Valley Health System; Chairman-Elect, ACHE Michael Barber, Vice President, GE Healthcare Healthymagination Dawn Owens, OptumHealth CEO, UnitedHealth Group Gary Ahlquist, Healthcare Practice Senior Partner, Booz & Company and many more. Keep an eye out for next year s conference, with exciting speakers and timely topics! 2011 Business of Healthcare Conference Flyer 6 HEMA Profile Book 2012

10 HISTORICAL SUMMER INTERNSHIP AND FULL-TIME EMPLOYMENT Summer Internships In the past 12 years, 570 students from Kellogg pursued internships in the healthcare industry. 2 Full-Time Employment In the past 11 years, 506 students from Kellogg pursued full-time employment in the healthcare industry. 2 2 Data collected by survey. Based on student response rates. Data may not represent all industries / categories. 8 HEMA Profile Book 2012

11 Faculty FEATURED HEMA FACULTY David Dranove, PhD, MBA Walter McNerney Professor of Health Industry Management at Kellogg Professor of Management and Strategy at Kellogg Director of the Center for Health Industry Market Economics at Kellogg Professor Dranove s research focuses on problems in industrial organization and business strategy with an emphasis on the healthcare industry. He has published nearly 75 research articles and book chapters and written five books, including The Economic Evolution of American Healthcare and What s Your Life Worth? His textbook, The Economics of Strategy, is used by leading business schools around the world. His latest book, Code Red, was published by Princeton University Press in Joel Shalowitz, MD, MBA, FACP Clinical Professor and Director of the Health Industry Management Program at Kellogg Professor of Preventive Medicine at Northwestern s Feinberg Medical School Visiting Professor of Health Industry Management at Schulich Business School of York University Dr. Shalowitz is the recipient of three Fulbright awards: Fulbright Scholar (2004) at York University in Toronto; Fulbright Senior Specialist and Visiting Professor (2007) at Keio University Medical School in Tokyo; and Fulbright Senior Specialist and Visiting Professor (2011) at Scuola Superiore Sant Ana in Pisa. He also co-founded and is managing partner for a 20 physician primary care group. Dr. Shalowitz s undergraduate and medical degrees (Sigma Xi) are from Brown University. His residency in internal medicine and MBA (Beta Gamma Sigma) were completed at Northwestern. His current areas of interest include quality, international healthcare and information systems. His most recent books are: Strategic Marketing for Health Care Organizations: Building a Customer-Driven Health System with Phillip Kotler and Robert Stevens published in 2008 and Medical Innovation and Government Intervention with Raine Hermans, Morton Kamien, Martti Kulvik, and Alicia Löffler published in September Edward Hughes, MD, MPH Dr. Hughes came to Kellogg from the National Bureau of Economic Research and Mt. Sinai School of Medicine in New York City. A graduate of the Harvard Medical School and Columbia University School of Public Health, he originally trained in General Surgery at Columbia- Presbyterian Medical Center, also in New York City. Dr. Hughes founded the University s Center for Health Services and Policy Research and served as its Director for seventeen years. He also served as the Director of Kellogg s Health Enterprise Management Program and is the founder of Kellogg s joint MD-MBA Degree Program. Professor Hughes played a central role in the development of the Pharmaceutical/Biotechnology curriculum at Kellogg and for many years served as Co-Director of the Biotechnology Program. His research interests entail the efficient utilization of resources in healthcare; health policy and economics; managed care; the pharmaceutical, biotechnology, and medical device industries; and leadership. Dr. Hughes is a highly rated teacher and the winner of a Faculty Impact Award. Additionally, he is a frequent speaker at healthcare events and serves as an advisor to many US leading healthcare firms. HEMA Profile Book

12 FEATURED HEMA FACULTY Leemore Dafny, PhD Associate Professor of Management and Strategy Professor Dafny is an applied microeconomist whose research focuses on competition in healthcare markets and the impact of public interventions on healthcare costs and quality. Recent projects include "Are Private Health Insurance Markets Competitive?" and "Estimation and Identification of Merger Effects: An Application to Hospital Mergers." She has lectured to a variety of audiences, and has served as a consulting expert on antitrust issues in healthcare, and healthcare policy reform. Additionally, she currently serves on the Panel of Health Advisers to the Congressional Budget Office. Timothy Calkins, MBA Clinical Professor of Marketing Professor Calkins is the author of Breakthrough Marketing Plans (2008). He is also the co-editor of Kellogg on Branding (2005). He has written numerous teaching cases focused on marketing strategy and branding. His most recent cases include Crestor, MedImmune: FluMist Introduction and Eli Lilly: Xigris. Moreover, he has worked with many of the leading pharmaceutical and medical device companies including: Pfizer, Eli Lilly, Takeda, Astra-Zeneca, Eisai, Baxter and Abbott. Professor Calkins teaches Marketing Strategy and Biomedical Marketing. For his excellence in teaching, Professor Calkins received the 2006 Lawrence G. Lavengood Outstanding Professor of the Year Award, the top teaching award at Kellogg. Sangeeta Vohra, PhD Clinical Associate Professor in Health Enterprise Management Academic Director of the Center for Biotechnology at Kellogg Professor Vohra joined Kellogg in Her expertise is in evaluating science and technology trends. She teaches the Science Boot Camp at Kellogg, translating the complex technologies for business students who do not have a background in life sciences. Professor Vohra hosts the annual biotechnology case competition and Saturday mini conferences, in which industry experts and academics present their views about needs in both the products and services sector of healthcare. She also designs and directs executive programs for those in the science and technology fields including Business for Scientists and Science for Managers. Craig Garthwaite, PhD, MPP Assistant Professor of Management & Strategy Professor Garthwaite joined the faculty at the Kellogg School of Management in He is an applied microeconomist whose research focuses broadly on public economics, health economics, and political economy. His recent projects have examined the economic benefits of healthcare innovations and physician responses to changes in government insurance policies. He served in a variety of public policy positions including the Director of Research for the Employment Policies Institute. He has testified before the United States House of Representatives and several state legislatures on matters related to the minimum wage and healthcare reforms. 10 HEMA Profile Book 2012

14 Alumni FEATURED ALUMNI Harry M. Kraemer 79 Clinical Professor of Management & Strategy, Kellogg School of Management Executive Partner, Madison Dearborn Former Chairman and CEO, Baxter International Harry Kraemer is the former chairman and chief executive officer of Baxter International Inc., a $9 billion global healthcare company. His 22 year career at Baxter included senior positions in both domestic and international operations. In April 1997, Mr. Kraemer was named president of Baxter International Inc. He became Baxter's chief executive officer in January Mr. Kraemer is active in business, education and civic affairs. He serves on the board of directors of Science Applications International Corporation and Sirona Dental Systems GmbH, and on the board of trustees of Lawrence University, Northwestern University, the Conference Board and Evanston Northwestern Healthcare. Mr. Kraemer received his MBA in finance and accounting from Kellogg. Susan Lavine Coleman 78 President, NCI Consulting Susan Coleman joined NCI Consulting in 1990 and was named President in Under Susan's leadership, NCI Consulting has become a premier strategic resource to the healthcare industry, focusing on commercial maximization through opportunity identification, growth strategy development, competitive scenario planning, and lifecycle plan development. Prior to joining NCI, Ms. Coleman spent most of her career rising through the management ranks of Johnson & Johnson, working in such areas as pain management, respiratory diseases, and new products, culminating with leadership of the global Therapeutic Skin Care business. Ms. Coleman received her MBA in marketing and finance from Kellogg. John Bluford 75 CEO and President, Truman Medical Centers John Bluford has served as Truman Medical Centers' (TMC) President/CEO for the past twelve years. Mr. Bluford's tenure at TMC is part of a distinguished career in hospital and health system administration that has spanned more than three decades. Mr. Bluford is a nationally known healthcare innovator who has been recognized by Modern Healthcare as one of the Most Influential People in Healthcare. Additional recognition he has received includes Northwestern University's Kellogg School of Management-Laura Jackson Award ( 2011), Kansas City's Nonprofit Professional of the Year Award (2011), Modern Healthcare 100 Most Influential (2007), NAACP Special Achievement Award (2004),and Missouri Hospital Association Visionary Leadership Award (2003). Mr. Bluford began his career in 1972 as the evening administrator at Cook County Hospital in Chicago, Illinois. Prior to coming to TMC, he served for 21 years in various leadership roles at Hennepin County Medical Center in Minneapolis, MN, including the last six as its CEO. Mr. Bluford received his MBA from the Kellogg School of Management. 12 HEMA Profile Book 2012

19 Class of 2012 Timothy Lee Phone: Looking for: Full Time Position Secured Sophia Li Phone: MMM Looking for: Full Time Position Secured Healthcare Interests: Marketing in medical devices or pharmaceuticals, specifically in the Asia-Pacific region Becton, Dickinson and Company Marketing Intern Summer 2011 Assessed global opportunities for antimicrobial coatings by identifying clinician awareness and willingness-to-pay ZS Associates Consultant Managed projects focusing on the sales and marketing strategy and operations for multinational pharmaceutical and medical device clients in the US and China Led the opening of ZS Shanghai office as one of four China market experts Northwestern University Weinberg College of Arts and Sciences; Major: Economics Native mandarin speaker Enjoy basketball, tennis, Chinese history and Chinese chess Healthcare Interests: Marketing and General Management in Medical Devices, Pharmaceuticals, or Biotechnology Becton, Dickinson and Company Global Mktg. Intern Diabetes Care Summer 2011 Created a market development strategy to drive adoption of a recapture for recycle program that has the potential to shape Public Policy Cooper Industries Operations Leadership Program Various Divisions Evaluated market trends and supply chain strategies, which contributed to the attainment of $3.1 million savings Led multiple cross-functional teams to increase inventory turns, reduce stock outs, and reduce staffing needs Washington University in St. Louis Olin Business School; Major: Marketing; Ops & Supply Chain Mgmt Fluent in Chinese Mandarin Certified in corporate Six Sigma Black Belt Program Keith Lukasik Phone: Looking for: Full Time Position Secured Bridget Mollner Phone: Looking for: Full Time Employment Healthcare Interests: Provider, Payor, Health & Wellness The Chartis Group Summer Consultant Summer 2011 Advised a faith-based, twelve hospital system in a major metropolitan area on regional expansion and intra-system partnerships Created a business case and conducted a competitive landscape assessment on open heart surgery in the region Insight Strategy Advisors Associate Consultant Worked with biopharmaceutical clients on commercialization strategy and access/reimbursement challenges University of Pennsylvanis School of Engineering and Applied Science, Bioengineering Director, 2011 Kellogg Business of Healthcare Conference Outside interests include cycling, running, and foreign travel Healthcare Interests: Medical Devices, Pharmaceuticals, Biotechnology Becton, Dickinson and Company MBA Summer Intern Summer 2011 Strategized to identify new market entry opportunities Developed a business case for a potential acquisition Barclays Capital/ Lehman Brothers Assistant Vice President Analyzed portfolios and financial models to provide valuable insights to enhance the investment decision-making of the firm s institutional clients Focused on product development of a proprietary portfolio management platform Washington University School of Engineering and Applied Sciences, Biomedical Engineering Pharmaceutics Research on hydrogel drug-delivery devices Enjoys basketball, soccer, and cooking HEMA Profile Book

20 Class of 2012 Jonathan Moskaites Phone: Looking for: Full Time Position Secured Thalia (Ty) Ries Phone: Looking for: Full Time Position Secured Healthcare Interests: Strategic marketing and business development in medical devices Becton, Dickinson and Company Business Development Intern, Strategic Innovation Summer 2011 Led initiative to rapidly assess a licensing opportunity and presented recommendations to the Office of the CEO Sg2, LLC (Healthcare Intelligence & Consulting) Consultant/Sr. Consultant Led cross-functional teams of MDs, PhDs, MBAs, and analysts in the delivery of research and consulting projects Analyst/Sr. Analyst Conducted research on emerging cardiovascular technologies Northwestern University Majors: Chemical Engineering and Economics Kellogg Healthcare Club: Vice President of Academics Interests: avid skier since age 4, golfing Healthcare Interests: Providers Northwest Community Hospital Summer Administrative Fellow Sponsored and mentored by CEO. Created business plan to bring new specialty to the hospital. Recommended strategy for compliance with Community Health Needs Assessment required by the Affordable Care Act ZS Associates Consultant Worked with clients in the biotech industry and managed teams on projects in marketing strategy, positioning, opportunity assessment, and forecasting Princeton University Major: Politics, Program in the Political Economy Graduated cum laude Princeton Varsity Softball Captain - now enjoys triathlons Kaushik Seethapathy Phone: Looking for: Full Time Employment Nilam Shah Phone: Looking for: Full Time Position Secured Healthcare Interests: Consulting, business development and strategy, international health, social entrepreneurship Deloitte Senior Consultant Recommended options to consolidate a health authority s three clinical systems into one, saving $40M over ten years Developed new governance structure & guidelines for hospital staff to improve decision making among departments Co-founded Deloitte Canada s not-for-profit consulting initiative; led expansion to other offices across Canada Aga Khan University Hospital Volunteer Consultant (Office of the CEO) 2008 Created plan to help hospital meet its long-term care goals University of Waterloo Major: Systems Design Engineering Work authorization: US (green card), Canada (citizen) Hobbies include world travel, wine and good eats Healthcare Interests: Management and marketing in the medical device and pharmaceutical/biotech industries L.E.K. Consulting Consultant Summer 2011 Conducted market assessment of electrical transmission and distribution line industry for client s due diligence Led a team of associates to recommend growth strategies for an aftermarket automotive parts company Roche Pharmaceuticals Scientist, Non-Clinical Safety Department Led team of analysts, auditors, and senior researchers to successfully implement $1MM Cohesive technology Developed scientific methods to determine safe drug levels Harvard University Bachelor of Arts; Major: Chemistry Extracurricular: President of Kellogg Healthcare Club Interests: skiing, snowboarding, surfing, and camping 18 HEMA Profile Book 2012

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